-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ER0owYkWm3M1IyJDe1iCV42UQVpNilf7GdDw4dqQ1Gt/+AmllqQdlTircUb8OXRj HWPn9QuJAXNjFimESYbnIg== 0000900092-05-000023.txt : 20050131 0000900092-05-000023.hdr.sgml : 20050131 20050131102906 ACCESSION NUMBER: 0000900092-05-000023 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041130 FILED AS OF DATE: 20050131 DATE AS OF CHANGE: 20050131 EFFECTIVENESS DATE: 20050131 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SENIOR HIGH INCOME PORTFOLIO INC CENTRAL INDEX KEY: 0000896665 IRS NUMBER: 223226962 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-07456 FILM NUMBER: 05560170 BUSINESS ADDRESS: STREET 1: 800 SCUDDERS MILL RD CITY: PLAINSBORO STATE: NJ ZIP: 08536 BUSINESS PHONE: 6092822800 MAIL ADDRESS: STREET 1: PO BOX 9011 CITY: PRINCETON STATE: NJ ZIP: 08543-9011 N-Q 1 ship.txt SENIOR HIGH INCOME PORTFOLIO UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-7456 Name of Fund: Senior High Income Portfolio, Inc. Fund Address: P.O. Box 9011 Princeton, NJ 08543-9011 Name and address of agent for service: Robert C. Doll, Jr., President, Senior High Income Portfolio, Inc., 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011 Registrant's telephone number, including area code: (609) 282-2800 Date of fiscal year end: 02/29/05 Date of reporting period: 09/01/04 - 11/30/04 Item 1 - Schedule of Investments Senior High Income Portfolio, Inc. Schedule of Investments as of November 30, 2004
Face Industry+ Amount Corporate Debt Obligations Value Aerospace & Defense - $ 400,000 K & F Industries, Inc., 7.75% due 11/15/2014 (b) $ 409,000 2.6% The Titan Corporation: 1,000,000 8% due 5/15/2011 1,060,000 2,984,733 Term B, due 6/30/2009++ 3,025,773 4,510,000 Vought Aircraft Industries, Inc., 8% due 7/15/2011 4,374,700 -------------- 8,869,473 Airlines - 0.2% 900,000 Evergreen International Aviation, Inc., 12% due 5/15/2010 621,000 Automotive - 6.9% 3,184,000 Accuride Corporation, Term B, due 6/30/2007++ 3,263,600 7,550,000 Advanced Accessory Systems, 10.75% due 6/15/2011 7,172,500 5,000,000 The Goodyear Tire & Rubber Company, Term, due 3/31/2006++ 5,075,000 1,800,000 Metaldyne Corporation, 11% due 6/15/2012 1,512,000 1,095,047 NFIL Holdings Inc., Term B, due 2/27/2010++ 1,154,768 1,350,000 Remy International, Inc., 6.07% due 4/15/2009 (d) 1,366,875 Tenneco Automotive Inc.: 1,875,000 11.625% due 10/15/2009 1,990,500 475,000 10.25% due 7/15/2013 559,313 1,232,069 Tranche B, due 12/12/2010++ 1,255,684 558,621 Tranche B-1, Credit Link, due 12/12/2010++ 569,328 Venture Holdings Company LLC (g): 3,325,000 9.50% due 7/01/2005 133,000 700,000 12% due 6/01/2009 875 -------------- 24,053,443 Broadcasting - 0.8% 3,000,000 Granite Broadcasting Corporation, 9.75% due 12/01/2010 2,820,000 Cable - International - 4,650,000 Kabel Deutschland GmbH, 10.625% due 7/01/2014 (b) 5,347,500 2.3% NTL Cable PLC (b): 2,350,000 6.07% due 10/15/2012 (d) 2,420,500 350,000 8.75% due 4/15/2014 394,625 -------------- 8,162,625 Cable - U.S. - 13.9% 1,800,000 CSC Holdings, Inc., 7.25% due 7/15/2008 1,890,000 Century Cable Holdings, LLC++: 3,000,000 Discretionary Term, due 12/31/2009 2,982,501 5,000,000 Term, due 6/30/2009 4,974,555 Charter Communications Holdings, LLC: 1,750,000 10% due 4/01/2009 1,518,125 1,000,000 11.75%* due 1/15/2010 877,500 2,000,000 11.125% due 1/15/2011 1,720,000 1,500,000 9.92% due 4/01/2011 1,233,750 1,000,000 10% due 5/15/2011 822,500 7,980,000 Charter Communications, Term B, due 4/27/2011++ 7,970,763 Inmarsat Investments Limited++: 2,292,136 Term B, due 10/10/2010 2,304,671 2,297,523 Term C, due 10/10/2011 2,317,555 3,970,000 Insight Midwest Holdings, LLC, Term B, due 12/31/2009++ 4,042,230 2,353,993 Mallard Cablevision LLC & Sun Tel Communications, Term B, due 9/30/2008++ (g) 23,540 3,000,000 Mediacom Broadband LLC, 11% due 7/15/2013 3,172,500 New Skies Satellites BV: 1,550,000 7.438% due 11/01/2011 (b)(d) 1,588,750 500,000 9.125% due 11/01/2012 (b) 510,000 1,000,000 Term, due 5/04/2011++ 1,016,667 4,000,000 Olympus Cable Holdings LLC, Term B, due 9/30/2010++ 3,968,752 5,250,000 Rainbow National Services LLC, 8.75% due 9/01/2012 (b) 5,551,875 -------------- 48,486,234 Chemicals - 20.8% 875,000 BCP Caylux Holdings Luxembourg SCA, 9.625% due 6/15/2014 (b) 982,188 2,648,213 CII Carbon LLC, Term, due 6/25/2008++ 2,621,730 2,250,000 Compass Minerals International, Inc., 12%* due 6/01/2013 1,822,500 Crompton Corporation (b): 3,000,000 7.67% due 8/01/2010 (d) 3,240,000 3,000,000 9.875% due 8/01/2012 3,360,000 3,600,000 GEO Specialty Chemicals, Inc., 10.125% due 8/01/2008 (g) 2,016,000 Huntsman International LLC: 1,000,000 9.875% due 3/01/2009 1,092,500 2,000,000 10.125% due 7/01/2009 2,110,000 2,000,000 Term, due 12/31/2010++ 2,040,500 1,750,000 ISP Holdings, Inc., 10.625% due 12/15/2009 1,942,500 3,000,000 Invista, 9.25% due 5/01/2012 (b) 3,337,500 2,500,000 Koppers Inc., 9.875% due 10/15/2013 2,830,000 2,500,000 KoSa B/INVISTA, Term, due 4/29/2011++ 2,544,356 1,650,000 Lyondell Chemical Company, 11.125% due 7/15/2012 1,951,125 1,350,000 Lyondell Chemical Worldwide, Inc., 9.80% due 2/01/2020 1,512,000 1,200,000 Millennium America Inc., 7.625% due 11/15/2026 1,182,000 5,350,000 Omnova Solutions Inc., 11.25% due 6/01/2010 6,018,750 1,498,403 Pinnacle Polymers, Term, due 12/15/2006++ 1,519,523 2,500,000 Pioneer Companies, Inc., 5.475% due 12/31/2006 (d) 2,512,500 3,763,333 Polymer Group, Inc., First Lien Term, due 4/01/2010++ 3,808,806 6,375,000 PolyOne Corporation, 10.625% due 5/15/2010 7,187,813 Rockwood Specialties Group, Inc.: 1,825,000 10.625% due 5/15/2011 2,075,938 250,000 7.50% due 11/15/2014 (b) 256,250 1,600,000 Term B, due 7/30/2012++ 1,612,429 Terra Capital, Inc.: 2,500,000 12.875% due 10/15/2008 3,125,000 832,000 11.50% due 6/01/2010 944,320 400,000 United Agri Products, Inc., 8.25% due 12/15/2011 (b) 427,000 8,000,000 Wellman, Inc., First Lien Term, due 2/04/2009++ 8,106,664 -------------- 72,179,892 Consumer Durables - 2.8% 6,000,000 Sealy Mattress Company, Term, due 4/06/2013++ 6,210,000 Simmons Company: 450,000 7.875% due 1/15/2014 468,000 3,000,000 Term B, due 6/19/2011++ 3,039,999 -------------- 9,717,999 Consumer Non-Durables - 4,975,000 American Safety Razor Company, Term B, due 4/01/2011++ 4,999,875 4.8% 1,675,000 Chattem, Inc., 5.40% due 3/01/2010 (d) 1,708,500 1,500,000 Culligan U.S., Term, due 9/30/2011++ 1,527,813 1,000,000 General Binding Corporation, 9.375% due 6/01/2008 1,005,000 1,975,000 Hines Nurseries, Inc., 10.25% due 10/01/2011 2,157,688 2,125,000 North Atlantic Trading Company, Inc., 9.25% due 3/01/2012 1,657,500 200,000 Riddell Bell Holdings, Inc., 8.375% due 10/01/2012 (b) 207,000 1,488,750 Solo Cup Company, Term, due 2/27/2011++ 1,518,757 2,000,000 True Temper Sports, Inc., 8.375% due 9/15/2011 1,780,000 -------------- 16,562,133 Diversified Media - 1.7% 325,000 Houghton Mifflin Company, 9.875% due 2/01/2013 357,500 5,520,000 TransWestern Publishing Company, LLC, Term B, due 2/25/2011++ 5,591,589 -------------- 5,949,089 Energy - Exploration & Quest Cherokee, LLC++: Production - 1.0% 1,625,000 Revolving Credit, due 7/25/2009 1,608,750 222,222 Revolving Credit, due 7/25/2010 224,444 1,777,778 Term B, due 7/25/2010 1,795,555 -------------- 3,628,749 Energy - Other - 4.1% Dresser, Inc.: 1,000,000 9.375% due 4/15/2011 1,100,000 1,250,000 Term, due 2/25/2010++ 1,271,875 718,038 Term B, due 4/10/2009++ 727,911 1,100,000 Dresser-Rand Group Inc., 7.375% due 11/01/2014 (b) 1,130,250 1,035,000 Energy Corporation of America, 9.50% due 5/15/2007 988,425 3,656,000 Giant Industries, Inc., 11% due 5/15/2012 4,259,240 Star Gas Partners, LP: 2,750,000 10.25% due 2/15/2013 2,935,625 1,750,000 10.25% due 2/15/2013 (b) 1,868,125 -------------- 14,281,451 Financial - 2.7% 4,000,000 Highland Legacy Limited Co., 8.41% due 6/01/2011 (b)(d) 3,240,000 500,000 Investcorp SA, 7.54% due 10/21/2008 500,903 1,000,000 Pennant CBO Limited, 13.43% due 3/14/2011 (b) 600,000 3,925,000 Refco Finance Holdings LLC, 9% due 8/01/2012 (b) 4,278,250 SKM-Libertyview CBO I Limited (b)(g): 1,500,000 8.71% due 4/10/2011 780,000 1,000,000 11.91% due 4/10/2011 80,000 -------------- 9,479,153 Food / Tobacco - 4.4% Commonwealth Brands, Inc. (b): 2,250,000 9.75% due 4/15/2008 2,340,000 2,825,000 10.625% due 9/01/2008 2,938,000 1,800,000 Dole Food Company, Inc., 8.875% due 3/15/2011 1,971,000 1,793,219 Dr Pepper Bottling, Term B, due 12/19/2010++ 1,825,441 1,442,000 Gold Kist Inc., 10.25% due 3/15/2014 1,672,720 3,000,000 Merisant Company, 9.50% due 7/15/2013 (b) 2,700,000 1,895,000 Pierre Foods, Inc., Term B, due 6/30/2010++ 1,915,925 -------------- 15,363,086 Gaming - 2.1% 2,000,000 Jacobs Entertainment, Inc., 11.875% due 2/01/2009 2,255,000 925,000 The Majestic Star Casino, LLC, 9.50% due 10/15/2010 975,875 311,000 Pinnacle Entertainment, Inc., 9.25% due 2/15/2007 (b) 317,998 2,000,000 Venetian Casino Resort, LLC, 11% due 6/15/2010 2,280,000 1,450,000 Wynn Las Vegas, LLC, 6.625% due 12/01/2014 (b) 1,424,625 -------------- 7,253,498 Health Care - 4.1% Elan Finance PLC (b): 1,325,000 6.51% due 11/15/2011 (d) 1,381,313 1,650,000 7.75% due 11/15/2011 1,744,875 1,712,820 MedPointe Inc., Term B, due 9/30/2008++ 1,721,384 2,085,227 Orthofix International NV, Term B, due 12/15/2008++ 2,109,989 3,000,000 Tenet Healthcare Corporation, 7.375% due 2/01/2013 2,925,000 VWR International, Inc.: 700,000 8% due 4/15/2014 (b) 742,000 3,661,334 Term B, due 4/07/2011++ 3,732,730 -------------- 12,975,978 Housing - 2.5% 226,860 Formica Holdings Corporation, 9.25% due 6/10/2011 215,517 2,300,000 General Growth Properties, Inc., Term B, due 11/12/2008++ 2,311,141 3,465,000 Headwaters Incorporated, Term B, due 4/30/2011++ 3,514,089 2,000,000 Lone Star Industries Inc., 8.85% due 6/15/2005 (b) 2,036,076 700,000 U.S. Concrete, Inc., 8.375% due 4/01/2014 749,000 -------------- 8,825,823 Information Technology - 3,100,000 Amkor Technology, Inc., 9.25% due 2/15/2008 3,038,000 2.7% 2,450,000 Freescale Semiconductor, Inc., 4.82% due 7/15/2009 (d) 2,535,750 3,826,563 VUTEk Inc., Term, due 6/25/2010++ 3,831,346 -------------- 9,405,096 Leisure - 3.5% 6,000,000 FelCor Lodging LP, 6.874% due 6/01/2011 (d) 6,255,000 274,000 HMH Properties, Inc., 7.875% due 8/01/2008 281,878 Wyndham International, Inc.++: 956,102 Increasing Rate Term II, due 4/01/2006 965,424 4,709,309 Term I, due 6/30/2006 4,747,083 -------------- 12,249,385 Manufacturing - 7.1% 275,000 Aearo Company, 8.25% due 4/15/2012 283,250 3,000,000 Communications & Power Industries, Inc., 8% due 2/01/2012 3,150,000 2,250,000 EaglePicher Incorporated, 9.75% due 9/01/2013 2,306,250 5,000,000 High Voltage Engineering Corporation, Term A, due 7/31/2006++ 4,975,000 4,942,893 Invensys International Holdings Ltd., Term, due 8/26/2009++ 5,013,947 2,825,000 Invensys PLC, 9.875% due 3/15/2011 (b) 3,043,938 3,500,000 MetoKote Corporation, Term, due 2/13/2011++ 3,545,937 300,000 NMHG Holding Company, 10% due 5/15/2009 331,500 2,000,000 Propex Fabrics Inc., 10% due 12/01/2012 (b) 2,030,000 -------------- 24,679,822 Metals - Other - 1.8% 500,000 IMCO Recycling Escrow Inc., 9% due 11/15/2014 (b) 516,250 5,500,000 Massey Energy Company, 6.95% due 3/01/2007 5,720,000 -------------- 6,236,250 Packaging - 7.2% 5,200,000 Anchor Glass Container Corporation, 11% due 2/15/2013 5,564,000 1,900,000 Consolidated Container Company LLC, 10.75%* due 6/15/2009 1,596,000 2,300,000 Crown Euro Holdings SA, 10.875% due 3/01/2013 2,719,750 4,002,857 Owens-Illinois Inc., Term C, due 4/01/2008++ 4,081,665 3,300,000 Pliant Corporation, 13% due 6/01/2010 3,168,000 650,000 Tekni-Plex, Inc., 8.75% due 11/15/2013 (b) 646,750 5,550,000 U.S. Can Corporation, 10.875% due 7/15/2010 5,841,375 1,250,000 Wise Metals Group LLC, 10.25% due 5/15/2012 (b) 1,262,500 -------------- 24,880,040 Paper - 6.7% 3,275,000 Abitibi-Consolidated Inc., 5.99% due 6/15/2011 (d) 3,315,938 2,975,000 Ainsworth Lumber Co. Ltd., 5.669% due 10/01/2010 (b)(d) 2,989,875 Boise Cascade LLC: 250,000 5.005% due 10/15/2012 (b)(d) 256,250 350,000 7.125% due 10/15/2014 (b) 365,750 1,041,096 Term B, due 10/29/2011++ 1,059,857 958,904 Term C, due 10/29/2010++ 966,804 4,625,000 Bowater Incorporated, 5.49% due 3/15/2010 (d) 4,648,125 4,325,000 Georgia-Pacific Corporation, 9.375% due 2/01/2013 5,038,625 625,000 Graphic Packaging International Inc., 9.50% due 8/15/2013 712,500 SP Newsprint Co.++: 522,083 Tranche B, due 1/09/2010 532,616 966,667 Tranche B L/C, due 1/09/2010 978,750 800,000 Stone Container Corporation, 8.375% due 7/01/2012 876,000 1,500,000 Tembec Industries, Inc., 8.625% due 6/30/2009 1,496,250 -------------- 23,237,340 Retail - 0.3% 893,250 General Nutrition Center, Inc., Term B, due 12/05/2009++ 904,192 Services - 6.4% 1,967,902 Allied Waste Industries, Inc., Tranche A - Credit Linked Deposit, due 1/15/2010++ 1,994,347 Allied Waste North America, Inc.: 720,000 7.875% due 4/15/2013 725,400 3,125,000 7.375% due 4/15/2014 2,914,063 1,600,000 Corrections Corporation of America, 9.875% due 5/01/2009 1,800,000 250,000 Great Lakes Dredge & Dock Corporation, 7.75% due 12/15/2013 231,875 3,000,000 MSW Energy Holdings LLC, 8.50% due 9/01/2010 3,300,000 United Rentals, Inc.++: 1,658,333 Initial Term, due 2/14/2011 1,681,135 333,333 Tranche B, Term Link Deposit, due 2/14/2011 336,528 5,450,000 United Rentals (North America), Inc., 7.75% due 11/15/2013 (b) 5,232,000 3,980,000 Waste Services, Inc., Term B, due 3/31/2011++ 3,950,150 -------------- 22,165,498 Telecommunications - 6.1% 2,045,000 Cincinnati Bell Inc., 8.375% due 1/15/2014 2,039,888 2,192,667 Consolidated Communications Acquisition of TXU, Inc., Term C, due 10/14/2011++ 2,229,668 5,550,000 FairPoint Communications, Inc., 12.50% due 5/01/2010 5,966,250 4,000,000 Qwest Communications International Inc., 5.79% due 2/15/2009 (b)(d) 3,990,000 1,000,000 Rural Cellular Corporation, 6.99% due 3/15/2010 (d) 1,030,000 3,500,000 Time Warner Telecom Holdings, Inc., 6.29% due 2/15/2011 (d) 3,491,250 2,500,000 Time Warner Telecom, Inc., 9.75% due 7/15/2008 2,487,500 ------------- 21,234,556 Transportation - 1.1% 1,325,000 Laidlaw International, Inc., 10.75% due 6/15/2011 1,525,406 2,197,059 North American Van Lines, Inc., Term, due 10/29/2010++ 2,216,283 -------------- 3,741,689 Utilities - 7.9% 2,250,000 The AES Corporation, 8.50% due 11/01/2007 2,283,750 1,500,000 Calpine Canada Energy Finance ULC, 8.50% due 5/01/2008 1,072,500 Calpine Corporation: 1,300,000 8.50% due 2/15/2011 874,250 3,950,000 Term B, due 7/15/2007++ 3,445,668 El Paso Corporation++: 750,000 Term, due 11/23/2009 754,553 1,250,000 Term C, due 11/23/2009 1,260,645 1,000,000 Mirant Americas Generation LLC, 7.625% due 5/01/2006 (g) 1,032,500 Mission Energy Holding Company: 5,300,000 13.50% due 7/15/2008 6,644,875 1,000,000 Term, due 12/11/2006++ 1,004,688 2,000,000 Northwest Pipeline Corporation, 6.625% due 12/01/2007 2,125,000 Sierra Pacific Resources: 2,100,000 8.75% due 5/15/2005 2,136,750 2,750,000 8.625% due 3/15/2014 3,135,000 790,000 TNP Enterprises, Inc., Term, due 12/31/2006++ 807,775 725,000 The Williams Companies, Inc., 8.625% due 6/01/2010 833,750 -------------- 27,411,704 Wireless Communications - 1,522,000 American Tower Corporation, 9.375% due 2/01/2009 1,605,710 6.4% 2,977,500 Centennial, Term A, due 2/09/2011++ 3,021,897 5,000,000 Crown Castle International Corp., 7.50% due 12/01/2013 5,362,500 Dobson Cellular Systems, Inc. (b): 2,200,000 6.96% due 11/01/2011 (d) 2,249,500 1,000,000 8.375% due 11/01/2011 1,025,000 500,000 Horizon PCS, Inc., 11.375% due 7/15/2012 (b) 541,250 3,491,250 SBA Senior Finance, Inc., Term B, due 10/31/2008++ 3,529,437 3,700,000 SpectraSite, Inc., 8.25% due 5/15/2010 3,968,250 800,000 US Unwired Inc., 6.13% due 6/15/2010 (d) 822,000 -------------- 22,125,544 Total Investments in Corporate Debt Obligations (Cost - $463,086,670) - 134.9% 468,882,055 Shares Held Common Stocks Cable - International - 1.4% 323,906 Telewest Global, Inc. (c) 4,741,984 Leisure - 0.1% 41,866 Lodgian, Inc. (c) 444,198 Manufacturing - 0.1% 62,580 High Voltage Engineering Corporation (c) 449,995 Telecommunications - 0.2% 14,246 IDT Corporation (c) 186,117 17,811 IDT Corporation (Class B) (c) 273,755 -------------- 459,872 Total Investments in Common Stocks (Cost - $11,270,563) - 1.8% 6,096,049 Preferred Stocks Cable - U.S. - 0.0% 2,500 Adelphia Communications Corporation (c) 5,000 Total Investments in Preferred Stocks (Cost - $225,000) - 0.0% 5,000 Warrants (a) Gaming - 0.0% 27,112 Peninsula Gaming Company, LLC 162,670 Paper - 0.0% 3,500 JSG Funding PLC 35,000 Wireless Communications - 600 American Tower Escrow Corporation 136,800 0.0% Total Investments in Warrants (Cost - $2,208,695) - 0.0% 334,470 Beneficial Interest Other Interests (f) Automotive - 0.0% $ 4,130,972 Cambridge Industries, Inc. (Litigation Trust Certificates) 41,310 Health Care - 0.0% 10,284 MEDIQ Incorporated (Preferred Stock Escrow due 2/01/2006) 0 Health Care - 0.0% 10,284 MEDIQ Incorporated (Preferred Stock Escrow due 4/01/2004) 0 Wireless Communications - 2,750,000 WilTel Communications Group, Inc. (Litigation Trust Certificates) 0 0.00% Total Investments in Other Interests (Cost - $0) - 0.0% 41,310 Short-Term Securities $ 586,921 Merrill Lynch Liquidity Series, LLC Cash Sweep Series I (e) 586,921 Total Investments in Short-Term Securities (Cost - $586,921) - 0.2% 586,921 Total Investments (Cost - $477,377,849**) - 136.9% 475,945,805 Liabilities in Excess of Other Assets - (36.9%) (128,299,056) -------------- Net Assets - 100.0% $ 347,646,749 ============== * Represents a zero coupon or step bond; the interest rate shown reflects the effective yield at the time of purchase by the Portfolio. ** The cost and unrealized appreciation/depreciation of investments as of November 30, 2004, as computed for federal income tax purposes, were as follows: Aggregate cost $ 477,110,825 ================ Gross unrealized appreciation $ 23,353,586 Gross unrealized depreciation (24,518,606) ---------------- Net unrealized depreciation $ (1,165,020) ================ + For Portfolio compliance purposes, "Industry" means any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Portfolio management. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. ++ Floating rate loans in which the Portfolio invests generally pay interest at rates that are periodically predetermined by reference to a base lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more European banks, such as London Interbank Offered Rate ("LIBOR"), (ii) the prime rate offered by one or more major U.S. banks or (iii) the certificate of deposit rate. Corporate loans represent 48.8% of the Portfolio's net assets. (a) Warrants entitle the Portfolio to purchase a predetermined number of shares of common stock and are non-income producing. The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date. (b) The security may be offered and sold to "qualified institutional buyers" under Rule 144A of the Securities Act of 1933. (c) Non-income producing security. (d) Floating rate note. (e) Investments in companies considered to be an affiliate of the Portfolio (such companies are defined as "Affiliated Companies" in Section 2(a)(3) of the Investment Company Act of 1940) were as follows: Net Interest Affiliate Activity Income Merrill Lynch Liquidity Series, LLC Cash Sweep Series I $ (4,233,025) $ 30,310 (f) Other interests represent beneficial interest in liquidation trusts and other reorganization entities and are non-income producing. (g) Non-income producing security; issuer filed for bankruptcy or is in default of interest payments.
Item 2 - Controls and Procedures 2(a) - The registrant's certifying officers have reasonably designed such disclosure controls and procedures to ensure material information relating to the registrant is made known to us by others particularly during the period in which this report is being prepared. The registrant's certifying officers have determined that the registrant's disclosure controls and procedures are effective based on our evaluation of these controls and procedures as of a date within 90 days prior to the filing date of this report. 2(b) - There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d)) that occurred during the last fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. Item 3 - Exhibits Certifications - Attached hereto Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Senior High Income Portfolio, Inc. By: /s/ Robert C. Doll, Jr.________ Robert C. Doll, Jr., President Senior High Income Portfolio, Inc. Date: January 13, 2005 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By: /s/ Robert C. Doll, Jr.________ Robert C. Doll, Jr. President Senior High Income Portfolio, Inc. Date: January 13, 2005 By: /s/ Donald C. Burke________ Donald C. Burke Chief Financial Officer Senior High Income Portfolio, Inc. Date: January 13, 2005 EX-99.CERT 2 ex99cert.txt EX-99 CERT EX-99. CERT CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 I, Robert C. Doll, Jr., President of Senior High Income Portfolio, Inc., certify that: 1. I have reviewed this report on Form N-Q of Senior High Income Portfolio, Inc. (the "Fund"); 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the Fund as of the end of the fiscal quarter for which the report is filed; 4. The Fund's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Fund and have: a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Fund, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c) evaluated the effectiveness of the Fund's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and d) disclosed in this report any change in the Fund's internal control over financial reporting that occurred during the Fund's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Fund's internal control over financial reporting; and 5. The Fund's other certifying officer(s) and I have disclosed to the Fund's auditors and the audit committee of the Fund's board of directors (or persons performing the equivalent functions): a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Fund's ability to record, process, summarize, and report financial information; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the Fund's internal control over financial reporting. Date: January 13, 2005 /s/ Robert C. Doll, Jr. Robert C. Doll, Jr. President Senior High Income Portfolio, Inc. EX-99. CERT CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 I, Donald C. Burke, Chief Financial Officer of Senior High Income Portfolio, Inc., certify that: 1. I have reviewed this report on Form N-Q of Senior High Income Portfolio, Inc. (the "Fund"); 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the Fund as of the end of the fiscal quarter for which the report is filed; 4. The Fund's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Fund and have: a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Fund, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c) evaluated the effectiveness of the Fund's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and d) disclosed in this report any change in the Fund's internal control over financial reporting that occurred during the Fund's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Fund's internal control over financial reporting; and 5. The Fund's other certifying officer(s) and I have disclosed to the Fund's auditors and the audit committee of the Fund's board of directors (or persons performing the equivalent functions): a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Fund's ability to record, process, summarize, and report financial information; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the Fund's internal control over financial reporting. Date: January 13, 2005 /s/ Donald C. Burke Donald C. Burke Chief Financial Officer Senior High Income Portfolio, Inc. -----END PRIVACY-ENHANCED MESSAGE-----